Required information Use the following information for the Exercises 3-7 below. (Static) [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Date Activities January 1 January 10 January 20 January 25 January 30 Beginning inventory Sales Purchase Sales Purchase Totals 140 units Units Acquired at Cost @ $ 6.00 = $ 840 100 units 60 units @ $ 5.00 = 300 80 units Units sold at Retail @ $ 15 @ $ 15 180 units $ 4.50 = 380 units 810 $ 1,950 180 units Exercise 5-6A (Static) Periodic: Inventory costing LO P3 The Company uses a periodic inventory system. For specific identification, ending inventory consists of 180 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO.